Akwel (AKW) Q3 2025 TU earnings summary

Executive summary

• Nine-month consolidated revenue reached €730.7M, down 3.6% year-over-year, with declines across all quarters in 2025.

• Third-quarter revenue was €220.1M, a 3.9% decrease compared to the same period last year.

Financial highlights

• Revenue at constant scope and exchange rates fell 3.0% for the nine-month period.

• Negative foreign exchange impact of €4.4M in Q3, mainly due to the US dollar.

• Net cash position stood at €168.9M as of September 30, 2025, up €19.6M from June 30.

Outlook and guidance

• A double-digit decline in consolidated revenue is forecast for 2026, driven by lower SCR tank volumes and delays in electric vehicle programs.

• The outlook is further pressured by program cancellations, postponements, and slow electric vehicle market development.